16 Billings Ave · Troy, NY 12180

$189,900

2 bd · 1.0 ba · 1,104 sqft · SingleFamily public records · 133 Days on market

Built 1860 6,969 sqft lot $172/sqft · 26% below area Est $255k · 26% under

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Cash flow +11.4/30.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• Schools +3.8/10.0
• Rent growth +3.7/5.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A hidden gem on Troy's east side! 16 Billings Ave. is a short distance from all that Main St. has to offer. Located inside the city of Troy, this home has a remarkable amount of space for outdoor entertainment, with a walkout basement, private back yard, and a nice-sized deck. Inside, the open floor plan makes for an ideal and efficient layout and is now complete with brand-new Pergo floors throughout.

Key facts

• Walkout basement
• Open floor plan
• Private back yard

Tags

• WALKOUT BASEMENT
• PRIVATE BACK YARD
• NICE-SIZED DECK
• OPEN FLOOR PLAN
• BRAND-NEW PERGO FLOORS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-67 ($-806/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (6.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (10.6% below list).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 81/100 on livability (#88 in NY, #1,350 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-, employment C-, crime F.
• Troy City School District (urban): math 44% / reading 46% proficiency, ranked #467 of 590 in NY (top 79%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.9%/yr); 220 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 405 units permitted in Rensselaer County in 2024 (224 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Rensselaer County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y ago; this cycle's ask has dropped $25k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $90k; list at $190k implies a 110% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1860 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,112 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1860 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.89% ✗
• Cap rate: 5.87%
• Cash-on-cash: -1.52%
• DSCR: 0.93
• GRM: 9.3

CMA / ARV

• ARV (median comp): $254,945
• List price: $189,900
• Delta: -25.51%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Jesse Ct	0.19mi	2/1.0	1,181 (+7%)	2mo	$256,000	$217	78
5 Tower Ave	0.16mi	3/1.5 (+1)	1,165 (+6%)	0mo	$253,700	$218	76
4 Plum Ave	0.21mi	3/1.0 (+1)	1,009 (-9%)	2mo	$215,000	$213	69
19 Parkview Ct	0.41mi	3/1.0 (+1)	1,081 (-2%)	9mo	$270,000	$250	65
42 Central Ave	0.58mi	3/1.5 (+1)	1,105 (+0%)	6mo	$282,500	$256	61
12 Parkview Ct	0.44mi	3/1.0 (+1)	1,176 (+6%)	3mo	$235,000	$200	61
37 Hamilton Ave	0.34mi	3/1.5 (+1)	1,200 (+9%)	2mo	$328,000	$273	61
67 Cameron Rd	0.47mi	2/2.0	1,154 (+4%)	7mo	$280,000	$243	60
11 Packer Ave	0.31mi	3/1.0 (+1)	1,212 (+10%)	9mo	$270,000	$223	57
14 Parkview Ct	0.44mi	3/1.0 (+1)	1,215 (+10%)	2mo	$252,000	$207	56
34 Central Ave	0.49mi	3/1.5 (+1)	1,200 (+9%)	6mo	$240,000	$200	50
2 Miller Ave	0.48mi	3/1.0 (+1)	1,248 (+13%)	7mo	$105,000	$84	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.88% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.40×
• Total profit: $-31,691
• Equity at exit: $28,315

10-year hold

• IRR: -5.0%
• Equity multiple: 0.65×
• Total profit: $-18,804
• Equity at exit: $16,419

Cash invested: $53,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 12180

• Home prices YoY: -33.3%
• Rents YoY: 4.9%
• Active inventory: 220
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,698 high
• Mortgage (P&I): −$996
• Tax from tax record: −$334 /mo · $4,004/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $-67

Break-even live

Break-even rent $1,783

Max offer price $178,040

Occupancy floor 99%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
499 Pawling Ave Unit 3 Troy, NY	3.0	1.0	800	$2,000	$2.50	21d	1	0.48mi
102 Main Ave Wynantskill, NY	3.0	1.0	1316	$1,600	$1.22	44d	1	0.71mi
110 Colleen Rd Troy, NY	1.0–2.0	1.0	955	$1,550	$1.62	14d	9	0.97mi
136 Maple Ave Unit 2 Troy, NY	2.0	1.0	1155	$2,000	$1.73	43d	1	1.01mi
198 Pawling Ave Troy, NY	2.0	1.0	700	$1,650	$2.36	23d	1	1.20mi
110 Project Rd Unit 1 Troy, NY	2.0	1.0	1000	$1,300	$1.30	23d	1	1.30mi
823 Hampton Place Blvd Troy, NY	2.0	2.0	1100	$2,200	$2.00	14d	1	1.49mi

Listing history 42 events

1. 2026-06-18
   days on market $189,900 Active 133 DOM
2. 2026-06-17
   days on market $189,900 Active 132 DOM
3. 2026-06-16
   days on market $189,900 Active 131 DOM
4. 2026-06-15
   days on market $189,900 Active 130 DOM
5. 2026-06-14
   days on market $189,900 Active 128 DOM
6. 2026-06-13
   days on market $189,900 Active 127 DOM
7. 2026-06-10
   days on market $189,900 Active 125 DOM
8. 2026-06-09
   days on market $189,900 Active 124 DOM
9. 2026-06-08
   days on market $189,900 Active 123 DOM
10. 2026-06-07
    days on market $189,900 Active 122 DOM
11. 2026-06-03
    days on market $189,900 Active 118 DOM
12. 2026-06-02
    days on market $189,900 Active 117 DOM
13. 2026-06-01
    pricedays on market $189,900 Active 116 DOM
14. 2026-05-31
    days on market $195,000 Active 115 DOM
15. 2026-05-31
    days on market $195,000 Active 114 DOM
16. 2026-05-15
    price $195,000 405-char remark

    Show marketing remark (405 chars)

    A hidden gem on Troy's east side! 16 Billings Ave. is a short distance from all that Main St. has to offer. Located inside the city of Troy, this home has a remarkable amount of space for outdoor entertainment, with a walkout basement, private back yard, and a nice-sized deck. Inside, the open floor plan makes for an ideal and efficient layout and is now complete with brand-new Pergo floors throughout.

17. 2026-04-27
    status Active 405-char remark

    Show marketing remark (405 chars)

    A hidden gem on Troy's east side! 16 Billings Ave. is a short distance from all that Main St. has to offer. Located inside the city of Troy, this home has a remarkable amount of space for outdoor entertainment, with a walkout basement, private back yard, and a nice-sized deck. Inside, the open floor plan makes for an ideal and efficient layout and is now complete with brand-new Pergo floors throughout.

18. 2026-04-24
    status Pending 405-char remark

    Show marketing remark (405 chars)

    A hidden gem on Troy's east side! 16 Billings Ave. is a short distance from all that Main St. has to offer. Located inside the city of Troy, this home has a remarkable amount of space for outdoor entertainment, with a walkout basement, private back yard, and a nice-sized deck. Inside, the open floor plan makes for an ideal and efficient layout and is now complete with brand-new Pergo floors throughout.

19. 2026-04-07
    price $199,000 405-char remark

    Show marketing remark (405 chars)

    A hidden gem on Troy's east side! 16 Billings Ave. is a short distance from all that Main St. has to offer. Located inside the city of Troy, this home has a remarkable amount of space for outdoor entertainment, with a walkout basement, private back yard, and a nice-sized deck. Inside, the open floor plan makes for an ideal and efficient layout and is now complete with brand-new Pergo floors throughout.

20. 2026-03-28
    price $205,000 405-char remark

    Show marketing remark (405 chars)

    A hidden gem on Troy's east side! 16 Billings Ave. is a short distance from all that Main St. has to offer. Located inside the city of Troy, this home has a remarkable amount of space for outdoor entertainment, with a walkout basement, private back yard, and a nice-sized deck. Inside, the open floor plan makes for an ideal and efficient layout and is now complete with brand-new Pergo floors throughout.

21. 2026-02-25
    price $210,000 405-char remark

    Show marketing remark (405 chars)

    A hidden gem on Troy's east side! 16 Billings Ave. is a short distance from all that Main St. has to offer. Located inside the city of Troy, this home has a remarkable amount of space for outdoor entertainment, with a walkout basement, private back yard, and a nice-sized deck. Inside, the open floor plan makes for an ideal and efficient layout and is now complete with brand-new Pergo floors throughout.

22. 2026-02-02
    listed $215,000 Active 405-char remark

    Show marketing remark (405 chars)

    A hidden gem on Troy's east side! 16 Billings Ave. is a short distance from all that Main St. has to offer. Located inside the city of Troy, this home has a remarkable amount of space for outdoor entertainment, with a walkout basement, private back yard, and a nice-sized deck. Inside, the open floor plan makes for an ideal and efficient layout and is now complete with brand-new Pergo floors throughout.

23. 2025-11-14
    historical
24. 2025-07-17
    listed $199,000 Active
25. 2025-06-29
    historical
26. 2025-06-28
    price $219,500
27. 2025-06-17
    price $229,000
28. 2025-06-09
    price $240,000
29. 2025-06-02
    price $245,000
30. 2025-05-27
    listed $248,500 Active
31. 2022-08-30
    historical
32. 2022-08-02
    price $165,000
33. 2022-07-20
    price $175,000
34. 2022-07-15
    listed $175,500 Active
35. 2022-07-07
    historical
36. 2022-04-21
    status Pending
37. 2022-04-04
    listed $150,000 Active
38. 2018-03-20
    soldstatus $90,300
39. 2018-03-09
    soldstatus $90,300 Closed (Final Sale)
40. 2018-01-24
    status Pend (Under Cntr)
41. 2017-12-05
    price $89,900
42. 2017-11-14
    listed $94,900 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $4,004 · $334/mo
• Projected year-2 tax: $4,004 · $334/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,378
• − Mortgage interest: −$10,637
• − Property taxes: −$4,004
• − Insurance: −$950
• − Repairs & maintenance: −$1,630
• − Management: −$1,630
• − Depreciation: −$5,524
• Taxable loss: −$3,998
• Est. tax savings @ 24.0%: +$960
• After-tax cash flow: $154/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Troy City School District
• NCES district ID: 3628950
• Math proficiency: 44% ▲ 6.00%
• Reading proficiency: 46% ▲ 6.00%
• Median HH income: $42,143
• Composite: 37.89/100
• National rank: #4318
• State rank: #467 of 590 in NY

Livability — Troy

• Score: 81/100
• State rank: #88
• US rank: #1350

Category grades

Amenities A+ Commute A+ Cost of living B+ Crime F Employment C- Housing A+ Health & safety A+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Troy, NY
• County: Rensselaer County · 75,590 people
• City population: 53,479
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 53,479
• Household income: $75,851
• Rent vs Own: 52.1% rent · 47.9% own
• Severe rent burden: 2698.0

Population outlook (Rensselaer County) Hauer SSP2

• Today (2025): 162,400 people
• By 2030: 161,746 · -0.4%
• By 2040: 158,095 · -2.7%
• By 2050: 152,966 · -5.8%
• By 2075: 140,767 · -13.3%
• By 2100: 124,727 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 12% Hispanic / Latino 8% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Romanian 5% Lithuanian 5% Slovak 1%
• Foreign-born: 10% · Canada, China
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 2% Arabic 2%

Political lean MEDSL · Rensselaer

• 2024 margin: Toss-up / Even · D 50.7% · R 49.3%
• 2008→2024 swing: -8.0pp toward R · 2008: 9.3pp · 2024: 1.4pp
• All cycles: 2024: D+1.4 2020: D+5.6 2016: R+2.9 2012: D+11.8 2008: D+9.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -142.53%
• Current HPI: 285.0762
• Rent YoY: ▲ 4.88%
• Metro: Albany-Schenectady-Troy, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+105.5% since first listed

27 events — show timeline

• 2026-05-15 Price Changed $195,000 Global MLS
• 2026-04-27 Relisted — Global MLS
• 2026-04-24 Pending — Global MLS
• 2026-04-07 Price Changed $199,000 Global MLS
• 2026-03-28 Price Changed $205,000 Global MLS
• 2026-02-25 Price Changed $210,000 Global MLS
• 2026-02-02 Listed $215,000 Global MLS
• 2025-11-14 Listing Removed — Global MLS
• 2025-07-17 Listed $199,000 Global MLS
• 2025-06-29 Listing Removed — Global MLS
• 2025-06-28 Price Changed $219,500 Global MLS
• 2025-06-17 Price Changed $229,000 Global MLS
• 2025-06-09 Price Changed $240,000 Global MLS
• 2025-06-02 Price Changed $245,000 Global MLS
• 2025-05-27 Listed $248,500 Global MLS
• 2022-08-30 Listing Removed — Global MLS
• 2022-08-02 Price Changed $165,000 Global MLS
• 2022-07-20 Price Changed $175,000 Global MLS
• 2022-07-15 Listed $175,500 Global MLS
• 2022-07-07 Listing Removed — Global MLS
• 2022-04-21 Pending — Global MLS
• 2022-04-04 Listed $150,000 Global MLS
• 2018-03-20 Sold (Public Records) $90,300 Public Records
• 2018-03-09 Sold (MLS) $90,300 Global MLS
• 2018-01-24 Pending — Global MLS
• 2017-12-05 Price Changed $89,900 Global MLS
• 2017-11-14 Listed $94,900 Global MLS

Property tax history

+13.0%/yr

Latest (2025): $4,004 · -22.1% YoY. Source: county tax records.